LSI Logic Boosts Guidance

The semiconductor company says the DVD recorder market is strong.
By TSC Staff ,

Shares of

LSI Logic

(LSI) - Get Report

jumped early Monday after the semiconductor maker boosted first-quarter revenue guidance.

The California-based company now expects revenue of $420 million to $435 million, up from its previous forecast of $400 million to $415 million.

"Strength in both consumer and storage components, driven by new products and an early end of the supply chain inventory correction, contributed to the raising of our first-quarter revenue guidance," the company said. LSI added that consumer unit growth is being "led by the DVD recorder market and the ramp of new digital audio products, mitigating usual first-quarter consumer seasonality."

The consensus forecast of analysts is $407.7 million, according to Thomson First Call.

The company will report first-quarter results and provide its second-quarter outlook on April 27.

In the premarket, shares traded at 6.40, up 34 cents, or 5.6%.

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